Welcome to our dedicated page for Clean Energy Technologies news (Ticker: CETY), a resource for investors and traders seeking the latest updates and insights on Clean Energy Technologies stock.
Clean Energy Technologies, Inc. (symbol: CETY) is a forward-thinking company specializing in the design, construction, and marketing of products that enhance energy efficiency and support environmentally sustainable technologies. Headquartered in Costa Mesa, California, CETY is publicly traded on the OTC market.
The company's principal product is the Clean Cycle™ Generator, which is offered by its Heat Recovery Solutions (HRS) division. This innovative generator captures waste heat and converts it into electricity, significantly improving energy efficiency for industrial clients. For more details, please visit Heat Recovery Solutions.
CETY's engineering and manufacturing resources are dedicated to their heat recovery solutions business, but they also extend their expertise to support other emerging clean-tech companies. Through these efforts, CETY aims to become a global leader in the expanding energy efficiency market.
The company operates through four main segments:
- Clean Energy HRS & CETY Europe - Focuses on heat recovery solutions and expanding the European market.
- CETY HK - Engages in business development and strategic partnerships in Asia.
- CETY Renewables - Concentrates on renewable energy projects and innovations.
- Electronic Manufacturing - Provides specialized manufacturing services to various industries, including industrial, aerospace, military, instrumentation, and medical sectors.
For ongoing updates and more detailed information about Clean Energy Technologies, Inc., visit their official website at www.ceti.io.
Clean Energy Technologies, Inc. (CETY) reported significant growth in its 2022 Year-End financial results. The total revenue reached $2.66 million, marking a 104% increase over 2021. Gross profits also rose by 92% to $1.17 million, while the net profit was $147,395, down from $297,551 in the previous year, attributed to one-time expenses related to its Nasdaq up-listing. Notably, the company recognized a substantial gain on debt settlement of $2.56 million in 2022, compared to $868,502 in 2021. As of early 2023, CETY's equity position improved significantly, bolstered by a public offering grossing $3.9 million and the conversion of a convertible note. The company aims for continued profitability through operational scaling and capital access.
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